Price for Magnesium; Waste and Scrap in Nigeria - 2022

Contents:

  1. Price for Magnesium; Waste and Scrap in Nigeria (FOB) - 2022
  2. Exports of Magnesium; Waste and Scrap in Nigeria

Price for Magnesium; Waste and Scrap in Nigeria (FOB) - 2022

The average magnesium; waste and scrap export price stood at $1,007 per ton in 2022, dropping by -6.3% against the previous year. Overall, the export price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 when the average export price increased by 11%. The export price peaked at $1,775 per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($1,266 per ton), while the average price for exports to Ukraine ($646 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (-4.0%), while the prices for the other major destinations experienced a decline.

Exports of Magnesium; Waste and Scrap in Nigeria

Magnesium; waste and scrap exports from Nigeria declined remarkably to 388 tons in 2022, which is down by -27.3% on the previous year. In general, exports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 178% against the previous year. As a result, the exports reached the peak of 534 tons, and then shrank notably in the following year.

In value terms, magnesium; waste and scrap exports contracted markedly to $391K in 2022. Over the period under review, exports saw a deep reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 175% against the previous year. As a result, the exports reached the peak of $573K, and then dropped remarkably in the following year.

Export of Magnesium; Waste and Scrap in Nigeria (Thousand USD)
COUNTRY2019202020212022CAGR,
2019-2022
Netherlands21.379.422815292.5%
United States15577.159.335.0-39.1%
India30.021.921.36.4-40.2%
Ukraine17.813.213.14.0-39.2%
Germany18415.66.74.0-72.1%
TurkeyN/AN/A13.1N/A0%
Czech RepublicN/AN/A21.1N/A0%
Brazil124N/AN/AN/A0%
Others2.21.2210190342.0%
Total535208573391-9.9%

Top Export Markets for Magnesium; Waste and Scrap from Nigeria in 2022:

  1. Netherlands (151.4 tons)
  2. United States (34.5 tons)
  3. Ukraine (6.2 tons)
  4. India (5.1 tons)
  5. Germany (4.1 tons)

Source: IndexBox Market Intelligence Platform

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